Quote:
Originally Posted by M1EK
It's all about zoning, man. They can't redevelop any more dense, and it isn't profitable to redevelop at the same density, so it slowly decays. Welcome to suburban nirvana.
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I don't know if this is really true for this part of town - your scenario is correct in many other places, but this area has seen a bunch of new buildings along Balcones. Those buildings were built on almost unusable, steep-graded land and they managed to do it. The area is really affluent and not decaying at all - I imagine that those 70's-80's midrises are just owned by people who aren't all that motivated to renovate or redevelop. They always seem to be occupied with tenants.
What is the zoning in this area? It can't be any different from the stuff along Mopac and Far West, and they've been building new things over there for the past 5-8 years. Given the size of the parking lot of the "Dow Jones" building, I think they could redevelop it profitably. A parking garage and a mid-rise building with a larger footprint is easily doable.
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